Jersey

We have recently contacted certain Non-Profit Organisations (NPOs), by mail or email, that we believe to be no longer active. The purpose of this correspondence is to confirm if those NPOs are still operating. The deadline for response by those NPOs in receipt of such correspondence from us is 30...

Royal Investment Consortium (the scam entity) Public Statement Royal Investment Consortium (the scam entity) www.royalinvestmentconsortium (the website) [email protected] (the email address) Issued: 31 May 2023 Banking Business (Jersey) Law 1991 (BB(J)L) This statement is to warn members of the public against dealing with unauthorised financial service providers. The scam entity has not received authorisation to...

We have published a consultation on a proposed fee increase of 14.7% in 2023 to the Fund Business sector fees. This increase is in line with our Business Plan and budget which included an expectation of RPI plus 2%. Whilst we continue to manage our costs and to be consistent...

We invited you to submit any questions or feedback you might have on the MLCO thematic feedback by 25 May 2023, so they can be answered as part of a recording. We have now received your feedback and will answer questions in due course. Source link

The proposed amendments either look to align, clarify, or expand existing provisions in the Money Laundering Order (MLO). It is proposed that the existing additional obligations imposed on financial groups regarding group-wide policies and procedures also apply to groups of designated non-financial businesses and professions. One of the proposals is...

The Government of Jersey has published the Terrorist Financing National Risk Assessment Update (2023 TF NRA). The 2023 TF NRA builds on the National Risk Assessment of Terrorist Financing published in April 2021 (2021 TF NRA) and should be read alongside it. The 2023 TF NRA forms part of Jersey’s continuous risk assessment work, including: ...

Notice for Funds and Fund Services Business (FSB) revocations must be submitted on or before Friday 9 June if you would like them to be processed prior to the next fee run. This includes revocation of certificates, ceasing to act Non-Domiciled Fund notifications, or FSB licence revocation requests. All...

The submission deadline for registration of Virtual Asset and Virtual Asset Service Providers ends at 11.59 p.m. on 30 June 2023 “Virtual Asset” means a digital representation of value that can be digitally traded or transferred and can be used for payment or investment purposes. “Virtual Asset Service Provider” (VASP) includes a...

In March 2023, we issued Consultation No.2 asking for feedback on proposed changes to our fee rates. In light of the feedback received, we are increasing the Investment Business (IB) fees by 12.7%, effective from May 2023. Our Business Plan included an expectation of RPI plus 2%, however we reassessed...

The recent legislative changes to the Schedule 2 of the Proceeds of Crime (Jersey) Law 1999 (PoCL) and the Proceeds of Crime (Supervisory Bodies) Law 2008 (Supervisory Bodies Law), have presented the opportunity to combine two of our supervision teams into one: New Regimes Team - responsible for the supervisory implementation of Non-Profit...

We will be conducting themed examinations of the Designated Non-Financial Businesses and Professions (DNFBP) and Virtual Asset Service Providers (VASP) sectors between June and October 2023, as part of our 2023 thematic examinations programme. This is to assess compliance with the obligations for reporting ML/TF/PF as set out in Article...

We are grateful for high levels of engagement from industry as we progress through the exemptions transition period. In the last month we have continued to engage with a broad cross-section of industry stakeholders and have: Issued a revised Notice to broaden the scope of who may use an AMLSP ...